Okonjo-Iweala scales last hurdle towards coronation as the DG of World Trade Organization

Okonjo-Iweala scales last obstacle towards coronation as the DG of World Trade Organization

South Korean Trade Minister Yoo Myung-hee has formally withdrawn from the race to lead the World Trade Organization (WTO). Her action clears the coast for former Nigerian Finance Minister Dr. Ngozi Okonjo-Iweala as the only remaining candidate for the top job.

Bloomberg reports that Yoo made the decision after discussions with the U.S. and other major nations.

She examined all the issues “comprehensively;” including the need to revitalize the multilateral organization, according to a statement from Korea’s trade ministry on Friday.

Her withdrawal from the race arrives after dozens of former U.S. government officials urged President Joe Biden to endorse Okonjo-Iweala after the Trump administration blocked her selection.

The WTO had to hold off on the entire process because of Trump’s opposition, since the WTO always chooses its Director General by consensus.

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